Leger regularly conducts an economic confidence survey that measures Canadians’ current and future confidence in the Canadian economy and household finances. It also explores Canadians’ perspectives on topical economic subjects.
Download our overall economic confidence in January 2025 report to see the key findings at a national level. It includes trending analysis and interprovincial comparisons. Separate reports that dive deeper into the study’s findings in British Columbia, Alberta, Manitoba, and Ontario are available for download below.
Highlights of this month’s economic confidence survey include:
- Current and future economic confidence for the country and households are at all-time lows as January 2025 marks further declines in confidence despite lower interest rates. 26% of Canadians are confident in the economy, a decrease of 4 points from our last Economic Confidence Survey in July 2024.
- While some of this may be reflecting a generally more negative seasonal mood, there is nonetheless no indication of any turnaround yet. When comparing against future confidence, 14% think the Canadian economy will improve in the future, a number that has been stable since July.
- Discretionary spending has yet to tick up, and instead of spending, Canadians may be looking more towards paying down debt and increasing savings. There is a net -8% difference of Canadians who will lower their discretionary spending. 30% of Canadians say they expect to lower their discretionary spending, while 22% say they expect to have higher discretionary spending.
- Like the national outlook, views of current household finances are slightly softer. 57% of Canadians think that their household finances are good or very good, a decrease of 2 points since July 2024.
- While the effects may not yet be felt in confidence metrics, Canadians claim that interest rate declines have boosted saving and spending, as 54% of Canadians said that lower interest rates have had an impact on their lives. Future predictions for debt reduction and savings may be somewhat aspirational, as 62% of Canadians believe interest rates will have an impact in the future.
Methodology
The results for this wave of research are based on online research conducted from January 12 to 15, 2025, with a representative sample of 2,645 Canadian adults 18 years of age and older from Leger’s LEO panel.
The data was statistically weighted according to 2021 Canadian Census figures.
A margin of error cannot be associated with a non-probability sample in a panel survey, but for comparison purposes, a probability sample of 2,645 would have a margin of error of +/-1.9%, 19 times out of 20.
